- Big movement in the crude oil market!
- The result of Trump's decision?
- Brent crude below $92
Trump Iran Conflict : It has been difficult to know where the winds of US military conflict with Iran are blowing. If we consider the current situation, there is a picture of reduced fear to a small extent. Therefore, oil prices have fallen on Tuesday. The sharp fall in the previous session continued today. (Trump Iran Conflict)
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It is worth noting that US President Donald Trump's statement that there is no need for military action against Iran 'at this time' has somewhat eased concerns about a prolonged disruption of oil supplies from the Middle East. Due to this, the price of oil has fallen.
What are oil prices today?
At 01:02 GMT on Tuesday, Brent crude futures were down 24 cents, or 0.23%, at $92.33 a barrel, while US West Texas Intermediate (WTI) futures were down 35 cents, or 0.40%, at $86.50 a barrel. In the previous session, Brent had fallen 5.85% to its lowest level since August 31.
What did Trump say?
Following calls by several countries in the region, including Qatar's prime minister, US President Trump announced a temporary suspension of new military strikes against Iran at the White House on Monday. In an interview and in the White House press conference room, Trump said he would continue the naval blockade of the Strait of Hormuz for now.
Meanwhile, senior US and Gulf officials have cast doubt on the prospects of a potential peace deal between Washington and Tehran. Mohsen Razai, the head of Iran's Security Council, said the US should “stop spreading fake news about imaginary negotiations” and “it's time to accept the seven conditions that Iran has repeatedly put forward.”
How were the central elections held?
It is worth noting that in the recent US midterm elections, Trump's party lost and the Democratic Party won a historic victory. After these elections, the balance of power in the US Congress has completely changed.
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